RBI monetary policy: MPC cuts CRR by 50 bps to 4%; market turns positive
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday reduced the Cash Reserve Ratio (CRR) by 50 basis points to 4%, bringing it back to the level before the policy tightening cycle began in April 2022. The announcement was made by Governor Shaktikanta Das in his final speech of this…
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Sensex jumps 600 pts, Nifty above 24,450; metal and financial stocks lead
Indian benchmark equity indices opened marginally higher for the third consecutive session on Tuesday, following gains from Asian markets. The rise was driven by metal and financial stocks, with comments from key US Federal Reserve officials raising expectations of a 25 basis-point rate cut later in the month. By 1:52 pm, the BSE Sensex was…
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NSE indices shakeup to trigger $633 million inflows for 5 PSU stocks
The NSE Indices Committee recently announced the September 2024 semi-annual reshuffle, affecting major indices such as the Nifty 50, Next 50, Nifty 100, and Nifty Bank. Effective September 30th, these adjustments are expected to significantly impact fund flows within the market. Two sectors, in particular, are poised for significant activity: retail and defense. In the…
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